DES MOINES – This holiday season, State Treasurer Roby Smith has a simple solution for gift-giving dilemmas. “As families gather for the holidays, invite the special people in your life to give a meaningful gift with a contribution to ISave 529,” Smith said. “Contribute to an existing account or open a new one, and help a loved one achieve a dream as unique as they are.”
ISave 529 provides families a tax-advantaged way to save for education where the earnings grow federally tax-deferred. Iowa taxpayers saving with the Plan can deduct up to $5,500 in contributions per Beneficiary account from their 2024 state income taxes. ISave 529 can be used tax-free for qualified education expenses at any eligible education institution, including two- and four-year colleges, apprenticeship programs and trade schools. In addition to higher education, funds can be used to pay for tuition expenses in connection with enrollment at a K-12 institution, repayment of qualified education loans or rolled over to the Beneficiary’s Roth IRA.
“With every contribution, no matter how small, we pave the way for brighter opportunities,” Smith concluded. “Contribute directly to your account and encourage family and friends to be part of your educational journey by making a gift contribution.” Visit ISave529.com/save/make-a-gift for more information on gifting to an ISave 529 account.
Learn more at ISave529.com or (888) 672-9116. For additional details about ISave 529, read the Program Description, and follow on Facebook, Instagram and X for current events and updates.
###
